SC&H Capital Advises Glen Hope in its Sale of Nine Texas-Based Assisted Living/Memory Care Facilities

SC&H Capital, a leading investment bank specializing in M&A advisory, is pleased to announce it has completed a sale of Glen Hope Harbor, Inc.’s, nine memory care/assisted living properties, known as The Autumn Grove Cottages, to six different buying groups in the industry.

The Cottages were owned by Glen Hope, a Texas nonprofit corporation and a controlled affiliate of The Emmaus Calling, Inc. Glen Hope oversaw the operation of the not-for-profit assisted living/memory care facilities beginning the first quarter of 2015. The Cottages consist of nine standalone, cottage-style, 16-unit properties. Seven of the properties are in the greater Houston market and two in the San Antonio market. Revenue and census numbers were severely impacted by the Covid-19 pandemic resulting in a decision to relocate the residents, close the assisted living/memory care operations, and sell the Cottages within a chapter 7 bankruptcy proceeding in the United States Bankruptcy Court for the Western District of Texas, Austin Division.

In late April of 2022, SC&H Capital’s Special Situations team was retained by the chapter 7 bankruptcy trustee, Randy Osherow, as the exclusive court-approved investment banker to oversee the sale process. The team conducted an exhaustive marketing process that generated significant market interest that resulted in numerous groups participating in two separate auctions, one for the Houston based properties and one for the San Antonio-based properties.

“We were extremely pleased that in addition to memory care/assisted living facility operators, the sale process also identified bidders interested in using the facilities for alternative uses including displaced children’s housing, behavioral health operations, drug rehab centers, and medical and law offices,” said Hank Waida, Principal at SC&H Capital. “This mix of bidders nearly doubled the initial stalking horse bid for the Houston properties and resulted in a 30 percent increase for the San Antonio properties.”

Other professionals who worked on the transaction include Charles Azano and Colleen Murphy of Greenberg Traurig, LLP, counsel for the bond trustee.

About SC&H Capital

SC&H Capital is an investment banking and advisory firm specializing in mergers and acquisitions
(M&A), employee stock ownership plans (ESOP), distressed M&A, and business valuations for middlemarket companies nationally. SC&H Capital delivers services across numerous industries including technology, healthcare, manufacturing, business and professional services, and government
contracting. We are recognized for delivering relevant market insights and tailored solutions to help
owners achieve their true strategic value. To learn more, visit www.schcapital.com.